EU raids electrical equipment producers amid cartel fears
(BRUSSELS) - The EU competition watchdog announced Wednesday it has carried out raids on electrical equipment producers amid suspicions they have been running a cartel.
The European Commission did not publish the names of the companies raided but said the raids on January 20 targetted producers of Flexible Alternating Current Transmission Systems (FACTS), used to increase the power transfer capability of transmission networks.
However German conglomerate Siemens confirmed in Berlin that it was among those whose premises were searched as part of the EU anti-cartel action.
The commission said in a statement that it "has reason to believe that the companies concerned may have violated EU antitrust rules that prohibit cartels and restrictive business practices."
"Siemens is cooperating fully with the authorities," company spokesman Joern Roggenbuck told AFP.
According to sector sources the probe concerned activities prior to 2006.
During the unannounced inspections, commission officials were accompanied by counterparts from national competition authorities.
There is no strict deadline to complete cartel inquiries.
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